Panaretos Contractors & Developers

Permanent Residence
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Permanent Residence

Many investors manage to gain permanent residence by investing and migrating overseas with their families. Specifically, one way they manage to gain permanent residence status is by investing in real estate. That can be either private homes or business offices, depending on what would the investor be interested in.

Another way an investor can get residency by investment is by joining job creation programs. This might mean opening a company in the country they wish to receive residency status. Additionally, the government can give the opportunity to any investor to invest their funds in governmental bonds and securities. Both the countries that receive the investments as well as the investors who wish to receive their residency by investment can benefit.

Here at Panaretos Contractors & Developers, we have specialized and experienced teams that can assist with all those options. We have expert consultants that can assist investors choose the best real estate options to invest in. Moreover, we have a team of experts that deals with in-depth foreign investors programs as well as economic development projects.

Benefits

When an individual chooses to invest in Cyprus, some of the main benefits include:

  • One of the most competitive corporate tax rates of 12.5%

  • Competitive individual tax rates & VAT rates

  • The individual’s foreign capital gains are exempt

  • Attractive individual tax regime is available for international professionals

  • Investors get access to Double Tax Treaties as well as to EU Tax Directives

  • No dividend, interest or royalty with holding tax on outgoing payments

  • A generous participation exemption regime

  • You can live in a top holiday destination

  • Enjoy a quality and relaxed lifestyle in an EU-country with the lowest crime rate

  • Cyprus will soon enter the Schengen visas of Europe

Budget-Planning

Criteria and information

  • A property of a minimum total value of 300,000 EURO plus VAT. Along with the submission form a contract of sale and proof of minimum 200,000 EURO plus VAT payment is required. The applicant needs to present a contract of sale to the Cyprus Department of Land & Surveys.

  • The property purchase is also valid through a company, if said company is solely owned by the applicant or the applicant and their spouse. In addition, the applicant needs to submit a letter from a Cyprus bank confirming a deposit of minimum 300,000 EURO from abroad. This needs to be done to an account which the client will keep inactive for a minimum of 5 years.

  • The issuance of the Cyprus permanent residency permit takes about 2 months and covers all family members, including children under 25 years old.

  • The applicant, his spouse and children from 16 years must hold a clear criminal record, from the country of origin, issued maximum 3 months before the application.

  • The applicant must prove that he has a minimum annual income of €30.000 with an extra €5.000 for each dependent.

  • The applicant is not obliged to stay in the country for at least 3 months a year, he only needs to visit Cyprus once every 2 years. However, it is necessary to open one deposit account in one of the Cypriot banks, for €30,000 for a period of 3 years.

  • The applicant must submit a statement confirming that he/she has no intention to work in Cyprus. The applicant can be a shareholder of a Cyprus company and earn dividends.

Contact Us

Should you have any questions about our services, please don’t hesitate to contact us by email or use the contact form below. We will do our best to respond to your inquiry as soon as possible. Please use English language to write your request.

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